Author Archives: Tim
Shipping Sector Flatlines
Shipping: The World’s Cheapest Sector Is About to Break Out — Seeking Alpha.
The article from Seeking Alpha linked above postulated that the shipping sector is seriously undervalued and due for a breakout to the upside. I am not sure about this analysis, and believe the shipping sector is composed of those companies that have their [...]
Posted in General Shipping Leave a comment
2009 Results for Shipping Stocks
To get started on 2010 and get this blog restarted I thought I would recap the overall results for shipping stocks in 2009. Compared to the broad market, the performance of shipping stocks overall lagged significantly. However, If you managed to pick upsome shares in early March, you probably did really well.
For the year, on [...]
Posted in Dry Bulk, Featured, Mixed, Tanker Leave a comment
Quarterly results overview for drybulk earnings
After reading through the earnings report of a bunch of drybulk and dry/tanker mixed fleet companies, I came to realize they are all suffering from the same symptoms and the ways they are handling the problem are not good for shareholders. The problem of seriously falling revenues has squeezed net income even harder, compounded by [...]
Posted in Dry Bulk, Featured, Mixed Leave a comment
The shipping industry’s $350 billion debt
Felix Salmon » Blog Archive » The shipping industry’s $350 billion debt | Blogs |.
The blog post linked above from Reuters reporter Felix Salmon discusses the large amount of bank debt collateralized by ships. With the current glut of ship inventory, if a company goes under the amount the bank realizes from the sale of [...]
Posted in Container, Dry Bulk, Tanker Leave a comment
Nordic American Tanker to pay record dividend
Record low that is! Nordic American Tanker NAT will pay a thin dime of a dividend for the 3rd quarter. NAT is a small tanker company with a fleet of suezmax tankers. The company employs their ships on the spot tanker market and pays a quarterly dividend based on what the revenues are for the [...]
Navios Maritime Partners boosts dividend
Navios Maritime Partners L.P. – Investors.
Navios Maritime Partners LP NMM has done something rare these days in the world of shipping stocks: They increased the distribution. The new rate is 40.5¢ per share compared to the previous 40¢ per quarter. In the 3rd quarter the company was able to raise capital and commit to the [...]
Genco Shipping and Trading Limited earnings
Genco Shipping and Trading Limited – Press Release.
Genco Shipping GNK has released their 3rd quarter results, full report linked above. The company’s results look significantly better than those for Dry Ships earlier this week. Genco reported a net income for the quarter of $1.10 per share. This is compared to $2.00 per share in the [...]
Dry Ships struggles with earnings
dryspr102609.pdf application/pdf Object.
I will put my thoughts up early today about the Q3 earnings report from Dry Ships DRYS. The poster child for over exuberance in the shipping market, circa 2006 and 2007, does not show much besides staying slightly profitable.
Here are some of the figures that caught my eye:
Net income (without the interest rate [...]
Shipping stocks year-to-date
Time to get back to regular writing for this site. Thought I would start slowly with a quick update of how the shipping stocks I track have done so far in 2009. Currently there are 41 stock total on the list and I track their returns on an equal dollar weighted basis and the total [...]
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Are Tanker Rates Headed Higher?